Achieving autonomy in oil refining at any cost can be a task based on a nationalist narrative that leaves rational decision aside. In such a way that, by looking in the wrong drawers to achieve such a task, the money required could increase to degrees of budget suffocation for the state as a whole. No one wants the failure of the national oil industry, but no one could deny that the situation in which Petróleos Mexicanos finds itself is one of frank and absolute financial emergency.
With crude oil production not only moving away from the goals set, but also showing a downward trend, coupled with an increase in operating costs and labor liabilities of 2.81 trillion pesos, the outlook does not seem encouraging. But despite this, the already formalized purchase of the Deer Park refinery puts additional pressure on the faltering national company. Not only is the disbursement of 600 million dollars involved in this operation, but also the absorption of just over 950 million additional anchored in the inherited debt.
It must be said, if the budget constraints involved in the operation of such a place are transcended, the Texas refinery will be the most productive plant that Pemex would have, even above Salina Cruz and Tula by processing the refining of about 335,000 barrels of crude per day With this, the projected capacities once the operational control of Deer Park is stabilized and the full functionality of Dos Bocas is consolidated, would be close to the production of 1 million 980,000 barrels per day.
And this second protagonist mentioned, the fledgling refinery located in Tabasco, presents scenarios for its conclusion that will not be exempt from controversy. The relevance of its location due to hydrological factors has already been bitterly questioned; however, the real mess is centered on the budgetary capacities to solve the conclusion of its construction. To date, with the delay in the construction of the original project, there is an excess of costs that is around 40% additional to what was agreed. More than 3,600 million dollars that the Mexican state must provide if it is to reach the goal of completing its construction in 2022. In addition, starting its operation with solvency will most likely require new capital injections to achieve quality production. of that long-awaited first barrel.
What urges Pemex is to achieve greater financial and productive efficiency. The capacities of the current refineries are estimated to be around 43%, largely stopped due to brief investment in maintenance and operation. Today, the great Mexican oil company has the obligation to feed two voracious mouths with quality; a foreigner who appears to walk healthily and a newborn who threatens to belatedly see her long-awaited delivery.
Guillermo Deloya Cobián is a native of Puebla, with a law degree, specializing in tax law, a master’s degree in economics and government, and a doctorate in strategic planning and development policies. He is currently pursuing a master’s degree in creative writing at the University of Salamanca.
He is a columnist and commentator in various national and local media, he has published eight books, in addition to various essays on topics ranging from the economic, political and legal, to a historical novel set in the 18th century.
He is a commentator and analyst on political, economic and legal issues at ADN40.
He has developed a constant teaching activity as a university professor both in Puebla and in CDMX.
He has a twenty-eight-year career in the public sector where he has held positions at the federal and state levels, in the Attorney General’s Office of Mexico City, in the Attorney General’s Office, in the Ministry of Finance and Public Credit , in the Council of the Federal Judiciary and the Government of the State of Puebla, was Coordinator of the National Institute for Federalism and Municipal Development, INAFED, of the Ministry of the Interior and has held various partisan positions.